First Trust Small Cap Growth AlphaDEX Fund (NASDAQ:FYC) Hits New 52-Week High - Time to Buy?

Key Points

• New 52-week high: First Trust Small Cap Growth AlphaDEX Fund (FYC) hit an intraday high of $104.55 and last traded at $104.4250 (prior close $102.82), trading above its 50-day ($99.14) and 200-day ($96.97) moving averages; market cap is about $968.1M with a P/E of 20.27.
• Institutional buying accelerated in Q2, with Bank of America boosting its stake by 92.8% to 246,143 shares and First Trust Advisors increasing its position to 254,884 shares, signaling notable inflows from large holders.
• FYC is an exchange-traded fund that tracks the NASDAQ AlphaDEX Small Cap Growth quant index, is managed by First Trust, and was launched in April 2011.

First Trust Small Cap Growth AlphaDEX Fund (NASDAQ:FYC - )'s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $104.55 and last traded at $104.4250, with a volume of 71408 shares changing hands. The stock had previously closed at $102.82.

First Trust Small Cap Growth AlphaDEX Fund Price Performance

The company has a market capitalization of $968.13 million, a price-to-earnings ratio of 20.27 and a beta of 1.14. The firm has a 50-day moving average price of $99.14 and a two-hundred day moving average price of $96.97.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of FYC. Creative Planning acquired a new position in shares of First Trust Small Cap Growth AlphaDEX Fund during the second quarter worth about $202,000. First Trust Advisors LP boosted its position in shares of First Trust Small Cap Growth AlphaDEX Fund by 2.8% during the second quarter. First Trust Advisors LP now owns 254,884 shares of the company's stock worth $20,284,000 after buying an additional 7,042 shares during the period. Bank of America Corp DE boosted its position in shares of First Trust Small Cap Growth AlphaDEX Fund by 92.8% during the second quarter. Bank of America Corp DE now owns 246,143 shares of the company's stock worth $19,588,000 after buying an additional 118,450 shares during the period. Equitable Holdings Inc. boosted its position in shares of First Trust Small Cap Growth AlphaDEX Fund by 8.9% during the second quarter. Equitable Holdings Inc. now owns 58,012 shares of the company's stock worth $4,617,000 after buying an additional 4,733 shares during the period. Finally, Geneos Wealth Management Inc. boosted its position in shares of First Trust Small Cap Growth AlphaDEX Fund by 54.7% during the second quarter. Geneos Wealth Management Inc. now owns 12,956 shares of the company's stock worth $1,031,000 after buying an additional 4,579 shares during the period.

About First Trust Small Cap Growth AlphaDEX Fund

The First Trust Small Cap Growth AlphaDEX Fund (FYC) is an exchange-traded fund that is based on the NASDAQ AlphaDEX Small Cap Growth index. The fund tracks a quant-driven index that select stocks from a small-cap growth universe in an attempt to outperform the market. FYC was launched on Apr 18, 2011 and is managed by First Trust.

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